acquisitions and divestitures

The latest move to consolidate the US shale sector will add 1,500 drilling locations to the buyer's portfolio. It also reflects that all-stock or mostly-stock deals are now the sector’s preferred acquisition vehicle.

The deal boosts Talos' 2019 production by 35%, helping the independent E&P company become one of the top 10 producers in the Gulf of Mexico.

Occidental Petroleum has closed on deals totaling $1.7 billion as part of its divestment program following its $38-billion takeover of Anadarko Petroleum.

The deal, first announced in May, gives the Delek subsidiary 10 additional producing field interests in the UK North Sea, boosting its 2019 production by 300%.

The US major has had a stake in the field since it started production in 1997. It produced 584,000 B/D of oil last year.

Heavy deal-making since 2015 by the two majors has resulted in very different upstream portfolios.

A month after it got out of Norway, Bloomberg reports that the company is working with advisers on a potential Malaysian sale, which could raise as much as $3 billion. ExxonMobil plans to divest around $15 billion in nonstrategic assets by 2021.

As Oxy looks to divest billions in assets and focus more on its prime US shale fields, it sheds itself of the ISND and ISSD fields off the eastern coast of Doha. In announcing the lease loss last year, Oxy said the fields need significant infrastructural investment.

The current M&A market is characterized by an increase in private capital, geographical diversity, and a variety of transaction types, including joint ventures and royalty deals.

The combined company will produce more than 100,000 BOE/D from the Permian Basin and Eagle Ford Shale and is switching its focus to “mega-pad” developments.